Smart Building Market Size, Share, Growth Report 2030

Smart Building Market

Smart Building Market- By Application (Commercial, Residential, and Industrial), By Automation Type (ENERGY MANAGEMENT, Infrastructure Management, Network & Communication Management, and Intelligent Security Systems), By Service (Professional Services and Managed Services), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2028

Category: Energy & Mining Report Format : PDF Pages: 165 Report Code: ZMR-2574 Published Date: Nov-2021 Status : Published

The global Smart Building Market earned 67.4 (USD Billion) in 2020 and is expected to earn 121.3 (USD Billion) by 2028, a CAGR of almost 10.6%.

The global Smart Building Market accruedearnings worth approximately 67.4 (USD Billion) in 2020 and ispredicted to gain revenue of about 121.3 (USD Billion) by 2028, isset to record a CAGR of nearly 10.6% over the period from 2021 to 2028. The report offers assessment and analysis of the Smart Building Market on a global and regionallevel. The study offers a comprehensive assessment of the marketcompetition, constraints, revenue estimates, opportunities,evolving trends, and industry-validated data. The report provideshistorical data from 2018 to 2020 along with a forecast from 2021to 2028 based on revenue (USD Billion).

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Smart Building Market: Synopsis

Smart building is a kind of infrastructure making utilization ofautomation for controlling building operations includingventilation, air conditioning, heating, and lighting. Furthermore,sensors, microchips, and actuators are used in buildings forgathering data along with effectively handling its functions & activities. Moreover, smart building infrastructure assistsoperators as well as facility managers in enhancement of assetperformance which results in space optimization along with powerutility and minimizes impact of environmental pollution onstructures.

Global Smart Building MarketRequest Free Sample

Smart Building Market: Growth Drivers

Surge in acceptance of IoT-based building management systemsalong with massive demand for power efficient tools will steergrowth of smart building market over upcoming years. Apart fromthis, evolution of 5G technology and growing smart city concepts isset to create new growth avenues for smart building industry overforecasting timeframe. Need for reducing operating costs, securitymanagement expenses, tenant management costs, and buildingperformance management charges will proliferate expansion of smartbuilding industry. Rise in need of safe & healthy workspace ispredicted to propel industry trends.

Furthermore, use of smart systems for sanitizing, proper officeventilating, temperature measuring, and space optimization willculminate into humungous elevation of size of smart building marketin coming years. Smart technology used in smart buildings can helpin tracking of movement of staff, thereby restricting spread ofdiseases. With smart systems interacting with people & processesalong with offering real-time information to employers to ensuresafety of staff is projected to prop up demand for constructing ofsmart buildings across globe. Swift urbanization is set to spikegrowth of smart building market over forecasting timespan.Nonetheless, rise in cases of cyber-attacks in smart buildings canpose a threat to expansion of smart building industry overanticipated period.

Regional Landscape

North America To Make Notable Contributions TowardsOverall Market Size By 2028

Introduction of green building initiatives is predicted tocreate strong growth platform for smart building market insub-continent. Growing concerns pertaining to power consumption hasresulted in demand for launching of new energy efficient systemsfor building, thereby driving regional market trends. Presence ofgiant firms in countries such as the U.S. will promulgate scope ofsmart building market growth in North America over forecastingtimespan.  

Global Smart Building Market: Report Scope:

Report Attributes Report Details
Report Name Smart Building Market
Market Size in 2020 USD 67.4 Billion
Market Forecast in 2028 USD 121.3 Billion
Compound Annual Growth Rate CAGR of 10.6%
Number of Pages 145
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered Siemens AG, Johnsoncontrols, ABB Group, Cisco Systems, Schneider SE, UnitedTechnologies Corporation, BuildingIQ, Inc., HoneywellInternational, IBM Corporation, and Delta Controls.
Segments Covered By Application, By Service, By Automation Type And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latian America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2020
Historical Year 2018 to 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization


To know more about this report, request a sample copy.

Competitive Landscape

Key players favorably impacting growth of smart buildingindustry landscape and profiled in report are Siemens AG, Johnsoncontrols, ABB Group, Cisco Systems, Schneider SE, UnitedTechnologies Corporation, BuildingIQ, Inc., HoneywellInternational, IBM Corporation, and Delta Controls.  

 The global Smart Building Market is segmented as follows:

By Application

  • Commercial
  • Industrial
  • Residential

By Service

  • Professional Services
  • Managed Services

By Automation Type

  • ENERGY MANAGEMENT
  • Intelligent Security Systems
  • Infrastructure Management
  • Network & Communication Management

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Surge in acceptance of IoT-based building management systems along with massive demand for power efficient tools will steer growth of smart building market over upcoming years. Apart from this, evolution of 5G technology and growing smart city concepts is set to create new growth avenues for smart building industry over forecasting timeframe. Need for reducing operating costs, security management expenses, tenant management costs, and building performance management charges will proliferate expansion of smart building industry. Rise in need of safe & healthy workspace is predicted to propel industry trends.

Furthermore, use of smart systems for sanitizing, proper office ventilating, temperature measuring, and space optimization will culminate into humungous elevation of size of smart building market in coming years. Smart technology used in smart buildings can help in tracking of movement of staff, thereby restricting spread of diseases. With smart systems interacting with people & processes along with offering real-time information to employers to ensure safety of staff is projected to prop up demand for constructing of smart buildings across globe.  

 

According to Zion market research report, the global Smart Building Market accrued earnings worth approximately 67.4 (USD Billion) in 2020 and is predicted to gain revenue of about 121.3 (USD Billion) by 2028, is set to record a CAGR of nearly 10.6% over the period from 2021 to 2028.

North America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to introduction of green building initiatives. In addition to this, growing concerns pertaining to power consumption has resulted in demand for launching of new energy efficient systems for building, thereby steering regional market trends. Presence of giant firms in countries such as the U.S. will promulgate scope of smart building market growth in North America over forecasting timespan.

The key market participants include Siemens AG, Johnson controls, ABB Group, Cisco Systems, Schneider SE, United Technologies Corporation, BuildingIQ, Inc., Honeywell International, IBM Corporation, and Delta Controls. 

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